Real estate developer William Hults has missed deadlines he was given to pay on his bid for the Packard Plant. / Andre J. Jackson/Detroit Free Press

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Detroit Free Press Business Writer

The Wayne County Treasurer has given Chicago-area developer William Hults at least one more day to produce an additional $300,000 down payment for Detroit’s old Packard Plant — the latest missed payment in a string by would-be buyers of the industrial ruin.

If Hults makes the nonrefundable payment by Wednesday, he would win another extension until Nov. 12 to pay the remaining $1.6 million of his $2-million auction bid for the former auto plant. Hults made a nonrefundable $100,000 deposit on Friday.

Until Hults delivers the deposit, his bid “is sort of in limbo,” said Chief Deputy Treasurer Dave Szymanski.

Hults has requested a meeting this week with Treasurer Raymond Wojtowicz to discuss the status of his bid.

“Based on the significant earnest money that has been placed with our office, I feel it appropriate to meet with Mr. Hults and his team and hear them out as to their position relative to the Packard Plant,” Wojtowicz said in a statement this afternoon.

Hults was the second-place bidder in last month’s online tax foreclosure auction for the roughly 40-acre Packard site. If his bid falls apart, the county would turn to third-place bidder Peru-based developer Fernando Palazuelo, who could pick it up for about $400,000, if Hults’ bids are disqualified.